Lyft (NASDAQ:LYFT) Shares Up 5.2% - Here's Why

Key Points

• Lyft's stock price increased by 5.2% to $15.39 amid reduced trading volume, which was down 81% from its average session volume.
• Analysts have mixed ratings on Lyft, with a consensus target price of $16.70, while Canaccord Genuity and Oppenheimer recently lowered their target prices.
• In its latest earnings report, Lyft missed EPS estimates, reporting $0.10 earnings per share against a consensus estimate of $0.27.

Lyft, Inc. (NASDAQ:LYFT - Get Free Report)'s stock price was up 5.2% on Friday . The stock traded as high as $15.27 and last traded at $15.39. Approximately 3,356,723 shares changed hands during trading, a decline of 81% from the average daily volume of 17,933,641 shares. The stock had previously closed at $14.62.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LYFT shares. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Lyft in a report on Thursday, June 5th. Roth Capital upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 target price on the stock in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Lyft from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. UBS Group lifted their target price on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of Lyft in a report on Friday, May 9th. Nine research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lyft has an average rating of "Hold" and a consensus price target of $16.70.

Lyft Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 64.88, a price-to-earnings-growth ratio of 2.61 and a beta of 2.26. The business's fifty day simple moving average is $14.94 and its 200 day simple moving average is $13.82.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the sale, the director owned 20,467 shares in the company, valued at approximately $335,863.47. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the completion of the sale, the director owned 879,498 shares in the company, valued at approximately $13,896,068.40. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.07% of the company's stock.

Institutional Investors Weigh In On Lyft

A number of institutional investors have recently modified their holdings of LYFT. Invesco Ltd. raised its stake in shares of Lyft by 12.0% in the 4th quarter. Invesco Ltd. now owns 583,992 shares of the ride-sharing company's stock valued at $7,533,000 after purchasing an additional 62,478 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Lyft by 22.2% in the 4th quarter. Sterling Capital Management LLC now owns 10,751 shares of the ride-sharing company's stock valued at $139,000 after purchasing an additional 1,950 shares in the last quarter. Mariner LLC raised its stake in shares of Lyft by 8.5% in the 4th quarter. Mariner LLC now owns 18,916 shares of the ride-sharing company's stock valued at $244,000 after purchasing an additional 1,479 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after purchasing an additional 970 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Lyft in the 4th quarter valued at about $132,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.